British budget deficit means fewer 'pre-election bribes' 

The figures served as a reminder of the fragility of the so-called fiscal headroom which Rishi Sunak (left) hopes will allow for more tax cuts ahead of elections expected next year. Headroom refers to the margin by which Britain's finance minister Jeremy Hunt can expand fiscal policy.

The budget picture for British prime minister Rishi Sunak has deteriorated, official data showed, but a smaller debt interest bill thanks to slowing inflation could yet restore some of his limited room for pre-election tax cuts.

Public sector net borrowing, excluding State-owned banks, totalled £116.4bn in the financial year so far, £24.4bn (€28bn) higher than in the April-November period a year earlier, the UK Office for National Statistics said.